Atlas Technical Consultants Announces Agreement to Acquire Colorado Based WesTest
Atlas Technical Consultants, Inc. (Nasdaq: ATCX) has announced the acquisition of WesTest LLC, a transportation-related materials testing and inspection services provider based in Colorado. With around 40 employees, WesTest enhances Atlas's capabilities in engineering and testing services. Atlas's CEO, L. Joe Boyer, expressed optimism about expanding their services in Colorado, aiming for growth in transportation and infrastructure sectors. The deal is set to close in Q3 2020, although financial terms were not disclosed.
- Acquisition of WesTest will enhance Atlas's testing and engineering capabilities in Colorado.
- WesTest's established reputation and client relationships align with Atlas's growth strategy.
- Expansion into the growing Colorado market supports transportation and infrastructure services.
- None.
AUSTIN, Texas, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Atlas Technical Consultants, Inc. (Nasdaq: ATCX) (“Atlas” or the “Company”), a leading provider of professional testing, inspection, engineering, program management and consulting services, announced today that it has entered into a definitive agreement to acquire WesTest LLC (“WesTest”), a key provider of transportation-related materials testing and inspection services, headquartered in Lakewood, Colorado. WesTest has approximately 40 employees, providing a wide range of materials testing, specification development, forensic engineering, geotechnical engineering and construction support services in Colorado.
L. Joe Boyer, Atlas’ Chief Executive Officer, said, “We are excited to welcome WesTest to the Atlas family. The addition of WesTest will expand our testing and engineering capabilities in the rapidly growing Colorado region, where we can lay the groundwork to scale up our transportation and infrastructure services. WesTest’s solid technical reputation and tenured client relationships fit firmly within our expansion strategy. We look forward to cross-sell and self-perform more work across our expanded footprint as we continue to build upon the growth and prosperity of our Company.”
Eric West, President of WesTest, commented, “Atlas is a great fit for WesTest and I look forward to the opportunities that joining a national platform provides our company and our people. We are perfectly aligned on strategy, culture and commitment to the customers and communities we serve. I am very thankful for all of the dedicated employees here at WesTest, and am extremely proud of the company we have built together.”
The transaction is expected to close in the third quarter of 2020. The terms of the acquisition were not disclosed.
About Atlas Technical Consultants
Headquartered in Austin, Texas, Atlas is a leading provider of professional testing, inspection engineering and consulting services under the name Atlas Technical Consultants, offering solutions to public and private sector clients in the transportation, commercial, water, government, education and industrial markets. With more than 100 offices in 40 states and 3,200+ employees, Atlas provides a broad range of mission-critical technical services, helping clients test, inspect, certify, plan, design and manage a wide variety of projects across diverse end markets. For more information, go to https://www.oneatlas.com.
Forward-Looking Statements
The statements contained in this press release that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. The information included in this press release in relation to Atlas has been provided by Atlas and its management team, and forward-looking statements include statements relating to Atlas’ management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us and are based on management’s experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: (1) the effect, impact, potential duration or other implications of the COVID-19 pandemic and any expectations we may have with respect thereto; (2) the risk that our actual results may differ from the guidance we have provided; (3) the ability to recognize the anticipated benefits of our past acquisitions, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain management and key employees; (4) changes adversely affecting the business in which we are engaged; (5) changes in applicable laws or regulations; (6) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and (7) other risks and uncertainties indicated from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, including those under “Risk Factors” therein.
Contacts:
Media
Karlene Barron
770-314-5270
karlene.barron@oneatlas.com
Investor Relations
512-851-1507
ir@oneatlas.com
FAQ
What is the significance of Atlas Technical Consultants acquiring WesTest?
When is the acquisition of WesTest expected to close?
What type of services does WesTest provide?
How many employees does WesTest have?
What is Atlas Technical Consultants's stock symbol?
